Top Stocks to Buy/Sell Today - 29 July, 2024
**Previous Session's Performance:**
**Nifty:**
The trading day witnessed a steady rise in Nifty's fortunes. Despite an initial flat opening, the index rallied throughout the session, eventually concluding with a robust gain of 1.76 percent. This upward momentum was complemented by strong performance in the Nifty Midcap 100 index, which surged by an impressive 1.81 percent.
**Sector Analysis:**
**Top Performers:**
Metals and Healthcare sectors emerged as the session's star performers, contributing significantly to the overall market rally. Conversely, Energy and Private Banks lagged behind, hindering the broader market's advance.
**Options Market Dynamics:**
**Open Interest:**
The options market displayed a notable concentration of interest at the 25000 Call and 24500 Put strikes. This suggests a potential anticipation of resistance at the former level and support at the latter.
**Sentiment:**
Bullish sentiment prevailed in the options market, as evidenced by a higher volume of put writing compared to call writing. This indicates a general belief in the index's continued upward trajectory.
**Technical Indicators:**
**VWAP Range:**
The Volume Weighted Average Price (VWAP) range remained between 24665 and 24925, providing a technical guideline for traders.
**Max Pain:**
Max Pain was located at 24700, indicating that the largest number of option contracts would expire worthless at this level.
**Put-Call Ratio (PCR):**
The PCR stood at 1.28, further supporting the bullish sentiment in the options market.
**Institutional Participation:**
**FIIs:**
Foreign Institutional Investors (FIIs) exhibited a net buying activity worth 2546.38 crore, contributing to the market's uptrend.
**DIIs:**
Domestic Institutional Investors (DIIs), on the other hand, were also net buyers with an activity totaling 2774.31 crore, adding to the bullish momentum.
**FPI Multi Index Futures Activity:**
**FINNIFTY FUTURES:** 6 **BANKNIFTY FUTURES:** 2433 **MIDCPNIFTY FUTURES:** 4304 **NIFTYNXT50 FUTURES:** 8 **NIFTY FUTURES:** 63023
Top Stocks to Buy Today:
1) AARTIDRUGS
Buy AARTIDRUGS shares in intraday timeframe at CMP Rs. 517.9
2) SBICARD
Buy SBICARD shares in intraday timeframe at CMP Rs. 707
3) BIKAJI
Buy BIKAJI shares in intraday timeframe at CMP Rs. 707.8
4) LXCHEM
Buy LXCHEM shares in intraday timeframe at CMP Rs. 260.35
Top Stocks to Short Today:
1) RITES
Sell RITES shares in intraday timeframe at CMP Rs. 715.95
2) SUMICHEM
Sell SUMICHEM shares in intraday timeframe at CMP Rs. 523.95
3) BANDHANBNK
Sell BANDHANBNK shares in intraday timeframe at CMP Rs. 209.99
4) PHOENIXLTD
Sell PHOENIXLTD shares in intraday timeframe at CMP Rs. 3592.45
Disclaimer: Remember, the market is a living beast, and even the most informed predictions can be devoured by unforeseen events. While this analysis is based on a thorough rule-based research, the ultimate decision to buy or sell rests with you. Do your own due diligence, consider your risk tolerance, and craft a strategy that aligns with your financial goals. Stratzy provides insights, not guarantees, and cannot be held responsible for any gains or losses incurred in your trading activities. Invest wisely, trade responsibly, and may the market gods favor you!